What advice would you give?

[JOAN DICKIE]

I showed my clients a 4 plex in decent shape.  Needs some cosmetic updating.  Running the numbers, the property breaks even, which I contend is a no go for purchasing.  The listing agent comes back with "You can raise the rent".  Yes, you could probably raise the rent $25-$50 a month per unit, but not much more than that.

My question - do you run your calculations on what is or what could be?